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Thursday, 22 September 2011

DAILY STOCK MARKET UPDATE:23.09.2011


Stock

Karachi Stocks Down 182.53 Points:
KARACHI, Sept 22: At close of trading, the KSE-100 index was at 11669.45, down 182.53 points.

September 22, 2011


TOP  5  SCRIPTS GAINERS AND LOOSERS:
Millat Tractors
Rs 7.77
Wyeth Pak Limited
Rs (42.00)
Indus Dyeing
Rs 4.53
Bata (Pak) Ltd
Rs (35.62)
EFU Life Assurance
Rs 3.34
Rafhan Maize
Rs (25.00)
New Jubilee
Rs 2.91
Island Textiles
Rs (9.63)
Sana Industries
Rs 2.44
Service Industries
Rs (9.40)

KSE 30 – Shares Index
Previous 11,366.55, Thursday’s 11,198.80, minus 167.75 points
KSE 100 – Shares Index
Previous 11,851.98, Thursday’s 11,690.23, minus 161.75 points
MARKET CAPITALIZATION
Previous Rs 3,124.221bn, Thursday’s Rs 3,082.361bn, minus Rs 41.860bn
VOLUME LEADERS
J. S. & Co 15.064m, National Bank 5.972m, Azgard Nine 5.614m, Lotte Pakistan 4.425m, Sui Southern 4.204m shares.
TOTAL VOLUME
82.729m shares
TOTAL
TONE: Easy, total listed 637, actives 333, inactives 304, plus 82, minus 171, unchanged 80


Stocks shed 161 points on profit-taking
KARACHI, Sept 22: The share market on Thursday failed to extend the overnight run-up as a section of investors took profits at the inflated levels on the blue chip counters but the underlying sentiment remained uppishly inclined.
The benchmark, however, shed a good part of the overnight gains as oil shares fell under the lead of OGDC as they rose a day earlier, off 1.43 per cent or 161.75 points at 11,690.23, eroding Rs42 billion from the market capital.
The market appears to be in a consolidation phase and after going through technical corrections, it is heading for a major breakthrough on the strength of positive news from the corporate fronts.
But some others said some of the depressants on the political front, notably divergent opinions about the existing relations with the US and its new demands on terror could take its toll in between.
“Could the market go alone to its pre-determined target, this is big question being debated among the leading analysts,” said a leading analyst and added,” it has to go alone with the political environments and strengthened by peace perceptions.”
The immediate reaction after a hefty rise reflects this perception as many are still not inclined to hold on to their long positions for obvious reasons, including the behavioral inconsistency in market stance, some others said.
The overnight massive gain attributed to the oil sector, notably the OGDC pave the way for the same group to cash in on the available profits and for good reasons, too, they added.
Leading gainers were led by Millat Tractors and Indus Dyeing, up by Rs7.77 and 4.53, while top losers, included Wyeth Pakistan and Bata Pakistan, off by Rs42 and 35.62.
Traded volume fell to 82.729m shares from the previous 117m shares as losers forced a strong lead over the gainers at 171, to 82, with 80 shares holding on to the last levels.
The active list was topped by J.S. & Co. firm by 52 paisa at Rs6.24 on 15m shares followed by National Bank, steady 28 paisa at 47.45 on 6m shares, Azgard Nine, firm by 12 paisa at 5.14 also on 6m shares, Lotte Pakistan, lower 39 paisa at 12.47 on 5m
shares, Sui Southern Gas, lower 85 paisa at 23.14 on 4m shares, Fauji fertilizer Bin Qasim, steady by 17 paisa at 55.43 also on 4m shares, and D. G. Khan Cement, easy 42 paisa at Rs20.90 on 2m shares.
They were followed by Nishat Mills, off 49 paisa at Rs48.08 on 2m shares, Hub-Power, lower 16 paisa at 41.83 on also 2m shares and Bank AlFalah, lower by 14 paisa at 10.53 on 2m shares.
FUTURE CONTRACTS: National Bank maintained its upward drive and was marked up by 20 paisa at 47.58 on 1.649m shares followed by Fauji fertilizer Bin Qasim, steady by eight paisa at Rs55.58 on 0.815m shares, and Engro Corporation, off Rs2.56 at Rs138.57 on 0.671m shares.
They were followed by Attock Refinery, off Rs2.30 at Rs111.17 on 0.389m shares and Nishat Mills, easy by 51 paisa at Rs48.24 on 0.351m shares.
DEFAULTER COS: Japan Power came in for active selling and fell by seven paisa at 0.94 on 0.313m shares followed by S.S. Oils, unchanged at Rs4.50 on 51,000 shares and Invest Bank, easy by four paisa at 0.26 on 42,626 shares. Others lacked normal interest and ended fractionally lower.

 

Mohammed Saleem Mansoori


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